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Office of Financial Assistance

Financing Options

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Federal Loans

Direct Loan
The Direct Loan Program is the best financing option for a student to pursue and should be considered before any private educational loan options.  The loan is available to students regardless of their level of financial need.  Direct Loans are funded by the U.S. Department of Education through Villanova University and are managed by federal loan servicers, under the supervision of the Department of Education. There are subsidized and unsubsidized options available.

If you are borrowing through the Federal Direct Loan program for the first time, please take time to review the Important Information for First Time Borrowers as it will provide guidance on what steps need to be completed in order for these loans to be processed.

Direct PLUS Loan
The Direct PLUS Loan is a credit-worthy loan for the parent or legal guardian of a dependent student (Direct PLUS) or a graduate student (Direct Graduate PLUS) who has borrowed the maximum amount of Direct Loan assistance. The loan is available to students regardless of their level of financial need. Direct Loans are funded by the U.S. Department of Education through Villanova University and are managed by federal loan servicers, under the supervision of the Department of Education.

Federal Perkins Loan
The Federal Perkins Loan is a Federal loan based on financial need. Students must be accepted/enrolled in an undergraduate degree program. The Perkins Loan is a 5% interest loan and becomes payable nine months after leaving the University, or nine months after the student is no longer enrolled at least half-time.

Please Note: On December 18, 2015, the Federal Perkins Loan Program Extension Act of 2015 was passed.  Due to this legislation, the Federal Perkins Loan Program will only be available through September 30, 2017.

Nursing Student Loan
The Nursing Student Loan is a Federal loan based on financial need. Students must be accepted/enrolled in an undergraduate degree program. The Nursing Student Loan is a 5% interest loan and becomes payable nine months after leaving the University, or nine months after the student is no longer enrolled at least half-time.

Other Lending Options

Villanova Tuition Payment Plan
For full time undergraduate students, the Villanova Tuition Payment Plan, offered through Tuition Management Systems (TMS), allows you to spread your balance out over 10 months for a small fee.

TMS also offers a plan for students in Graduate and Part time studies programs to pay over 3 monthly payments in the amount of your choice.

Private Educational Loan Programs
Private Educational Loans are administered by private lenders and there are a variety of lending institutions that offer these. You should first apply for a Direct Subsidized/Unsubsidized Loan and then consider the Direct PLUS Loan (if the student is dependent) or the Direct Graduate PLUS (if the student is a graduate student) and then, if additional funding is needed, apply for one of these loans.